National Express (LON:NEX)

National Express (LON:NEX)

Share Price
407.60 p
1.8 (0.44 %)
Market Cap
£2,085.85 m
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National Express RNS Release

Director/PDMR Shareholding

RNS Number : 3449S
National Express Group PLC
08 March 2019


National Express Group PLC

8 March 2019





Notification of transactions by Persons Discharging Managerial Responsibilities ("PDMRs")


The Company provides notification of the following transactions, all effected on 8 March 2019 on the London Stock Exchange, relating to the three below named PDMRs and their respective interests in the ordinary shares of nominal value 5p each in the capital of the Company ("Shares") (ISIN: GB0006215205).


The transactions arise in respect of: (i) the acquisition and immediate sale (in whole or in part) of the forfeitable Shares awarded to the PDMRs on 8 March 2018 under the rules of the Company's Executive Deferred Bonus Plan ("EDBP") and relating to the one-year deferred element of their 2017 annual bonus, and (ii) the forfeitable Shares awarded to the PDMRs on 8 March 2019 under the rules of the Company's EDBP and relating to the one-year deferred element of their 2018 annual bonus.


Individual PDMR details are set out in the table below:


Name and position of PDMR

Number of forfeitable Shares acquired and sold as per (i) above ¹ ²

Number of forfeitable Shares awarded as per (ii) above ¹ ³

Total beneficial interest held in Shares following the transactions ⁴


Total other interest

held in Shares following the transactions ⁵



Dean Finch,

Group Chief




119,939 shares acquired and all sold at

431.4 pence

per share









Chris Davies, Group Finance Director



24,708 shares acquired and 11,637 sold at

431.4 pence

per share









Matthew Ashley,

President and CEO, North America



37,021 shares acquired and all sold at

431.4 pence

per share









¹ Malus and clawback apply to forfeitable Shares awarded under the EDBP for two-years from the date of award, including post termination of employment

² The Shares sold included those compulsorily sold to cover the immediate personal tax and social security liability arising on vesting. All Shares delivered to the individual are existing Shares through the Company's Employee Benefit Trust

³ The forfeitable Shares awarded were determined based on a share price of 429.2 pence, being the average mid-market price of a Company share for the five business days immediately preceding the date of award

⁴ Including those held by connected persons

⁵ Represents outstanding awards granted under the Company's EDBP and Long-Tern Incentive Plan


Each PDMR hold shares to a value in excess of their required level under the Company's shareholding guidelines (proportionate to service in the case of Chris Davies).


The Company can confirm that each of the PDMRs has complied with their respective obligation to notify the Financial Conduct Authority in respect of the above transactions as required under the EU Market Abuse Regulation.


-     END    -


National Express contact and telephone number for enquiries:


Michael Arnaouti, Deputy Company Secretary

++44 (0) 207 805 3805



Legal Entity Identifier: 213800A8IQEMY8PA5X34

Classification: 3.1 (with reference to DTR6 Annex 1R)



This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact [email protected] or visit

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